Advance Auto Parts Inc. (NYSE:AAP) had its price target raised by Royal Bank Of Canada from $174.00 to $175.00 in a research report issued to clients and investors on Tuesday. The firm presently has an “outperform” rating on the stock. Royal Bank Of Canada’s price target would suggest a potential upside of 7.38% from the stock’s current price.

Other analysts have also recently issued reports about the company. Deutsche Bank AG dropped their price target on Advance Auto Parts from $180.00 to $175.00 and set a “buy” rating for the company in a report on Wednesday, August 17th. Argus restated a “buy” rating and set a $185.00 price objective on shares of Advance Auto Parts in a research note on Wednesday, August 31st. Jefferies Group restated a “hold” rating and set a $150.00 price objective on shares of Advance Auto Parts in a research note on Wednesday, October 19th. Susquehanna assumed coverage on Advance Auto Parts in a research note on Thursday, August 25th. They set a “neutral” rating and a $158.00 price objective on the stock. Finally, Citigroup Inc. raised their price objective on Advance Auto Parts from $145.00 to $162.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 17th. Three analysts have rated the stock with a sell rating, eight have given a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $166.25.

Analyst Recommendations for Advance Auto Parts (NYSE:AAP)

Advance Auto Parts (NYSE:AAP) opened at 162.98 on Tuesday. The firm has a market cap of $11.99 billion, a price-to-earnings ratio of 26.32 and a beta of 1.04. Advance Auto Parts has a 1-year low of $131.59 and a 1-year high of $172.87. The firm has a 50-day moving average price of $144.72 and a 200-day moving average price of $153.88.

Advance Auto Parts (NYSE:AAP) last released its quarterly earnings results on Monday, November 14th. The company reported $1.73 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.71 by $0.02. The business earned $2.25 billion during the quarter, compared to analysts’ expectations of $2.20 billion. Advance Auto Parts had a return on equity of 20.89% and a net margin of 4.75%. The firm’s revenue for the quarter was down 2.0% compared to the same quarter last year. During the same period last year, the firm posted $1.95 EPS. On average, analysts expect that Advance Auto Parts will post $7.25 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 6th. Stockholders of record on Friday, December 23rd will be paid a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.15%. The ex-dividend date of this dividend is Wednesday, December 21st. Advance Auto Parts’s dividend payout ratio is 3.94%.

In other Advance Auto Parts news, EVP Robert B. Cushing acquired 1,500 shares of the company’s stock in a transaction dated Tuesday, August 30th. The shares were bought at an average cost of $156.66 per share, with a total value of $234,990.00. Following the purchase, the executive vice president now directly owns 6,362 shares of the company’s stock, valued at $996,670.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Thomas Greco acquired 6,250 shares of the company’s stock in a transaction dated Tuesday, August 23rd. The stock was acquired at an average cost of $159.56 per share, for a total transaction of $997,250.00. Following the completion of the purchase, the chief executive officer now directly owns 42,154 shares in the company, valued at $6,726,092.24. The disclosure for this purchase can be found here. 4.50% of the stock is owned by insiders.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Creative Planning increased its position in shares of Advance Auto Parts by 0.7% in the second quarter. Creative Planning now owns 1,178 shares of the company’s stock worth $190,000 after buying an additional 8 shares in the last quarter. Cleararc Capital Inc. increased its position in Advance Auto Parts by 0.9% in the second quarter. Cleararc Capital Inc. now owns 1,795 shares of the company’s stock worth $290,000 after buying an additional 16 shares during the period. Edmp Inc. increased its position in Advance Auto Parts by 1.1% in the third quarter. Edmp Inc. now owns 1,473 shares of the company’s stock worth $220,000 after buying an additional 16 shares during the period. Johnson Investment Counsel Inc. increased its position in Advance Auto Parts by 0.6% in the second quarter. Johnson Investment Counsel Inc. now owns 3,478 shares of the company’s stock worth $562,000 after buying an additional 20 shares during the period. Finally, Checchi Capital Advisers LLC increased its position in Advance Auto Parts by 4.0% in the second quarter. Checchi Capital Advisers LLC now owns 751 shares of the company’s stock worth $121,000 after buying an additional 29 shares during the period. 99.42% of the stock is currently owned by institutional investors.

About Advance Auto Parts

Advance Auto Parts, Inc provides automotive aftermarket parts in North America, serving do-it-for-me (commercial) and do-it-yourself (DIY), customers, as well as independently owned operators. The Company’s stores and branches offer a selection of brand name, original equipment manufacturer (OEM) and private label automotive replacement parts, accessories, batteries and maintenance items for domestic and imported cars, vans, sport utility vehicles and light and heavy duty trucks.

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